March 17, 2015

VW said to explore LeasePlan sale

Citing a source familiar with the plan, Reuters says that Volkswagen is in talks to sell a 50 per cent stake in financing arm LeasePlan to a consortium as the carmaker cuts costs and refocuses its business.

Reuters notes the carmaker owns VW Leasing, its own in-house leasing business, and is increasingly relying on its Volkswagen Financial Services arm, making it harder to justify holding a stake in a third-party leasing business.

Reuters says , according to the source, a sale of the whole of LeasePlan could fetch up to three billion euros ($3.2 billion).